(VOVworld) – A seminar on the development of the capital market for start-up businesses opened in HCM city on Tuesday. Delegates shared their experiences in mobilizing investment funds for start-ups in a number of countries such as the US, the Republic of Korea, Israel, and Singapore.

They proposed that the state should have a favorable legal framework for risk investments in start-ups and that the government should have resources for such funds. In his address, Deputy Prime Minister Vuong Dinh Hue said Vietnam aims to have 1 million businesses by 2020: “The government will do what it can to support businesses. The government should consider itself an initial business incubator. The government is researching a legal framework to generate funding for start-up businesses.”

The National Financial Supervisory Commission signed a memorandum of understanding on cooperation in national and cross-border financial supervision with the Republic of Korea’s Financial Services Commission.